Executive Summary
- The S&P 500 is currently in its second longest bull market since WWII in terms of both magnitude and duration.
- Various historically-reliable measures of market valuation are indicating returns in U.S. stocks over the next decade may be less than half their historical averages.
- It’s reasonable to expect about a 50% decline in U.S. stocks during the “bear” phase of this cycle just to bring valuations back to historical averages.
Continue reading “The Second Longest Bull Market Since WWII…When Will It End?”